PAMI assets up 8.3% to P21B last year

The Philam Asset Management Inc. (PAMI) recorded net assets of P21.09 billion in 2007, up 8.26 percent from P19.489 billion in 2006.

PAMI is an affiliate of the Philamlife group of companies. It is the fund manager for six mutual funds invested in equities, peso and US-dollar denominated fixed income, money market, and balanced funds.

The asset manager remains on top with the largest number of accounts at 94,268.

PAMI is the fund manager for six active mutual funds. These are: Philam Bond Fund or PBFI (fixed income); Philam Strategic Growth Fund or PSGF (equity or stock market); Philam Fund or PFI (a mix of equities and fixed income investments otherwise known as balanced fund); Philam Dollar Bond Fund or PDBF (US dollar-denominated fixed income); GSIS Mutual Fund Inc. or GMFI (balanced fund initiated by the Government Services and Insurance System); and the Philam Managed Income Fund  or PMIF (money market).

Last year, PBFI net assets stood at P6.15 billion while the PDBF noted assets reaching P5.1 billion.

The GSIS Mutual Fund ended last year with net assets worth P4 billion while net assets under the Philam Strategic Growth Fund grew to P3.4 billion.

Assets of the Philam Fund expanded to P3 billion while the Philam Managed Income Fund or money market fund expanded to P67 million.

In terms of net asset value per share (NAVPS), the GMFI grew by 21.98 percent,  PSGF by 20.09 percent, PFI by 19.37 percent, PDBF by 6.6 percent, PBF by 4.34 percent, and the PMIF shrunk by 0.03 percent.

Recently, PAMI co-launched the AIG Global Bond Fund, a mutual fund invested in a global multi-currency fund.

Global fund manager is the asset managers of the American International Group (AIG), the parent holding company of Philippine American Life and General Insurance Co. (Philamlife).

The new product offers broader options for investors to park their savings.         — Ted Torres